Sora Ventures Makes NASDAQ Debut via Strategic Merger with Top Win, Rebranding as AsiaStrategy

This Friday, Sora Ventures will make its debut on public markets through a strategic alliance with Top Win International Limited, a Hong Kong luxury watch distributor now venturing into the digital asset landscape.

Instead of launching a standalone IPO, Sora Ventures will integrate into TopWin’s existing publicly traded framework.

Jason Fang, the founder, will take on the role of Co-CEO alongside Tony Ngai, part of a rebranding effort for the company now dubbed “AsiaStrategy.”

This initiative follows TopWin’s decision to explore blockchain and Web3 technologies, implement a Bitcoin-based treasury approach, and realign its business strategy to meet the growing interest in digital assets across Asia.

TopWin aims to utilize Sora’s expertise, especially in institutional Bitcoin implementation, to guide investment and treasury strategies in burgeoning capital markets within the region.

As part of this transition, TopWin plans to adopt Sora Ventures’ capital deployment strategy, which involves managing a fund focused on Bitcoin treasury allocations in public enterprises throughout Asia.

### Sora Ventures’ Extensive Crypto Background

Founded in 2018, Sora Ventures has built a strong reputation for investing in early-stage blockchain projects like DeFi, NFTs, and GameFi, and has recently shifted its focus towards decentralized science and the Bitcoin space.

The venture capital firm was an early supporter of Metaplanet, contributing to its emergence as Japan’s first public Strategy counterpart. In early 2025, Sora expanded its strategy by implementing a similar model in Hong Kong.

By collaborating with UTXO Management, Sora gained a majority stake in HK Asia Holdings Ltd, laying the groundwork for further institutional Bitcoin integration in the area.

Fang has a wealth of experience derived from various market cycles and has established a disciplined approach to capital allocation.

### AsiaStrategy Bitcoin Treasury Initiative

Under Fang’s guidance, Sora Ventures plans to invest $150 million in Asian public companies that adopt Bitcoin treasury strategies, with the goal of supporting at least ten firms by the end of the year.

TopWin will continue its primary business of luxury watch distribution while leveraging Sora Ventures’ Web3 knowledge to broaden its portfolio.

This strategic maneuver allows the company to operate in both physical and digital asset markets, aligning with Asia’s rapid advancements in tokenized finance.

Subject to approval, TopWin will change its name to AsiaStrategy to represent its commitment to both traditional and blockchain-driven business avenues.

This initiative highlights the growing institutional alignment around Bitcoin as a treasury reserve, especially in regions experiencing favorable regulatory conditions.

By adopting a Bitcoin treasury model and entering the public sphere through Sora Ventures, the company seeks to establish a lasting foothold in Asia’s dynamic capital marketplace.